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Please note: This report is complimentary for FWA members and study participants. If your firm is an FWA member or was a participant in this study, please go to the On-Demand Library in the FWA Member Portal to access this report.
Other firms may purchase a digital copy of the report here. It will be emailed to you within one business day.
Our 2025 Alliance Research Study: The Economics of Family Wealth Firms is designed to arm you with reliable benchmarks and forward-looking signals so you can pressure-test and refine your own economic model. It's a deep dive into how family wealth firms make money, spend money, and set their strategic priorities.
This study brings together 60 participating North American family wealth firms, representing over $500B in assets under management and over 90,000 client relationships. Firms include multifamily offices, UHNW RIAs, and firms with a hybrid client base, each submitting comprehensive survey responses to contribute unique insights into their economics.
Content Includes:
Part I: The Revenue Engine
Part II: The Cost Architecture
Part III: Economics at Scale
Part IV: 2026 Priorities
Part V: The Profitability Playbook
Key Benchmarks and Sample P&Ls: By Firm Size (AUM) and Median Client Size (Net Worth)
Interviews with Eric Sontag (Wealthspire Advisors), Tim Spidel (Spidel Burnfin), Royce Ramey (Versant Capital Management), Jenn Barry (Aaron Wealth Advisors), Nikolee Turner (Schwab Business Consulting & Education)